| Mining firm pays $50m income tax | Send to a friend |
| Thursday, 27 October 2011 23:12 |
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Perth, Australia. The government policy that requires mining companies in the country to pay income tax has begun paying dividends after the Anglo-Gold Ashanti Limited, announced it would pay the tax amounting $50million (about Sh86billion) this year. The Anglo-Gold Ashanti chief executive officer, Mr Mark Cutifani, told President Jakaya Kikwete, here yesterday that the company has already paid income tax to the tune of Sh8.6billion. Mr Cutifani told the President that the company that operates the Geita Gold Mine, would pay the remaining income tax by the end of this year.The Anglo-Gold Ashanti boss revealed this during talks with President Kikwete who is here for the Commonwealth Heads of State and Government meeting (CHOGM) which begins today. This would be the first time the mining company is paying income tax since it became operational in Tanzania in 1999.The government has put in place a policy that obliges mining companies to pay income tax after realising their investment capital. Mr Cutifani also told President Kikwete that his company has improved relations with communities living around the mining area by engaging in corporate social responsibility. He said one of the projects being undertaken by the mine is a water project that he asked the President to inaugurate in Geita.President Kikwete also held talks with the chief executive officer of another mining company called Fortsque Metal Group, Mr Andrew Forrest. Mr Forrest expressed willingness to invest in mining and infrastructure such as roads and railway.The President also held talks with the chief executive officer of Paladin Energy Generation of Australia, Mr John Borshoff, who expressed his interest in investing in uranium mining. Mr Borshoff informed President Kikwete that his company was already mining uranium in Malawi and Namibia. Add this page to your favorite Social Bookmarking websites           |
